Russell wins £60m Ranks Hovis equity slice

UK – Food manufacturing and marketing company Ranks Hovis McDougall has appointed Frank Russell Company to a £60m multi-manager continental European equity mandate. Frank Russell Securities was also appointed to provide transition management services to the fund.

“ We recognise the benefits of a multi-manager approach and therefore looked at several multi-manager fund providers when considering the award of this mandate. In our mind, Russell was the best suited to meet this brief,” says John Botting, group pensions manager at Ranks Hovis McDougall.

The food manufacturer has been a client of the manager since 1986 and already has over £330m in its multi-manager funds.